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Sonic R. System

  • #36,881
  • Edited 6:21pm Jul 5, 2012 5:54pm | Edited 6:21pm
Quoting alkenany
i did early sort 0288
breakin prev. low 0260 mpre confirmationwhite line
lmportant news after 2 hours
Hi alkenany

I think you pointed out the 1-2-3 waves quite nicely over the dragon.

To look forward and plan for next week, I would zoom out on a H4 chart and get a Big Picture of AU. Use a clean chart without any indicators and look at the H4 TF on a week by week basis.

After the strong bullish week 26 and break of BRN 1.020, why would anyone want to short AU in beginning of week 27? Unless there is s strong reversal price action. Take note of 1.022 high of week 25.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,882
  • Jul 5, 2012 6:03pm Jul 5, 2012 6:03pm
Quoting eserna
Really 30 pips? where?, by the way, are you russian, do you work 24hr?, or what, you should be slepping, shouldn´t you.

I am in Portugal, and yes i can be awake for quiet some time, vodka - rules also when its bear move i am very comfortable, u know bears - russia, rings a bell?
There is no spoon....
  • #36,883
  • Jul 5, 2012 6:51pm Jul 5, 2012 6:51pm
Quoting Msis125125
Tp 1 reached 50 pips.

Holding for ms3 now
very good trade! well done.
trade management + managing your trading psychology will determine how much you can squeeze out of the market.

breaking the prev D low and also after long period of 4-hour price contraction... high probability of burst.

usually you have 3 tries to catch the correct direction, but with H4 PA you see more and can 'filter' out the direction.

GOOD TRADING!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,884
  • Jul 5, 2012 6:59pm Jul 5, 2012 6:59pm
Quoting Msis125125
I am in Portugal, and yes i can be awake for quiet some time, vodka - rules also when its bear move i am very comfortable, u know bears - russia, rings a bell?

Hi guys,

I like vodka rules.
Vodka is a good spirit. Let's keep with this good spirit.

I trade 4-hour, therefore I seldom have a full 8-hours of sleep. But I am not complaining because that's the trader's life I chose.
Trading 4-hour you have the choice to check your chart every 4-hour or not. It depends on the market condition.
But when I have open trades, I manage them every 4-hours. So I get disrupted sleep.
More often, between GMT1600 till GMT2300 there is little market activity. So this is good for me as I live in GMT+8 time zone.

Today is NFP day.

More big moves to close this nice first week of 3Q.

GOOD TRADING to ALL!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,885
  • Jul 5, 2012 7:57pm Jul 5, 2012 7:57pm
Quoting traderathome
AU: Moved SL higher, and might have to again, even above next higher whole number. My SL is mental, but I am trying to learn a way to live with setting a hard one......and with absolutely no progress. It seems futile. The market will whip prices how it wants to before a good trade gets started. And, for my money, there is no valid way to set a SL, other than a catastophic SL.

Edit: Actually, two risks existed at time of entry. One: was not LS. Two: Dragon was not below Trend for a short trade. This is not mandatory within SonicR Rules & Recommendations,...
AU: Added 2nd short and changed TP(s) per attached. No SL.
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  • #36,886
  • Edited 8:16pm Jul 5, 2012 8:12pm | Edited 8:16pm
Quoting traderathome
AU: Added 2nd short and changed TP(s) per attached. No SL.
Hi TAH,

Good Morning.

1) do you use same position size for this add-on short?

2) what is now your average entry price?

3) how many more add-on short do you have in mind/ in your plan?

4) what is your 'shirt protection' rule (if any) for such method?

Thanks,

Regards,
EMMANUEL

Edit: "shirt protection" or "loose your shirt"
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,887
  • Edited 8:51pm Jul 5, 2012 8:20pm | Edited 8:51pm
Quoting GuruKrish
Ha ha ha. No problem. I try to follow TAH advice to the thread. Entry I know but still I don't know how to take profit on what level. I try to put mental SL and Mental TP. TAH should define about MM for R&R.
Here is a cursory view of my personal MM and R:R.

1. If you believe in trade, stay with it. A SL will just interfere with doing that. At some point, based on your account drawdown and your waning conviction about the trade, you might decide to bail out with loss. But you decide when to do that! Don't let the market decide that for you by hitting a SL "target" you place there for them! If you must use a SL, then only trade....

  1. after LS begins and exit before US session begins
  2. after US session begins and exit before next day asian session begins
  3. and, in each of these two time slots, don't enter until after any whipping for these two time slots has already occurred.

And "good luck" to you if you try to accomplish this successfully. Ask yourself these questions. Why does the market engage in whipsawing price? Even when price seems to be "trending", why are pullbacks of 50%, 100% and even 150+% seen during a move in the LS? And do you really think you can "outguess the market" as to if it is going to do whipsawing, or if it is going to do significant pullbacks, and when, and by how much? If you think you can, then you should do a post on how to set a SL so that the good trade is not stopped out before it truely runs.

2. In some "seasons" the concept of "Let your winners ride." might make sense, but in other "seasons" setting a TP close-in (within the day range) makes sense; "Take the money and run!" You have to decide what "season" the market is in.

3. Oh, R:R? Forget that nonsense. You are after gaining pips (real money), not R:R ratios. Last time I looked, R:Rs had no conversion value to real money. It might have some "bragging value", if you covet that sort of crap, but that's about all.


-traderathome

  • #36,888
  • Edited 9:26pm Jul 5, 2012 9:11pm | Edited 9:26pm
Quoting emmanuel7788
Hi TAH,

Good Morning.

1) do you use same position size for this add-on short?

2) what is now your average entry price?

3) how many more add-on short do you have in mind/ in your plan?

4) what is your 'shirt protection' rule (if any) for such method?

Thanks,

Regards,
EMMANUEL

Edit: "shirt protection" or "loose your shirt"
Yes. (EP1+EP2)/2. Maybe a third one. When I lose conviction.
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  • #36,889
  • Jul 5, 2012 9:42pm Jul 5, 2012 9:42pm
Quoting traderathome
Yes. (EP1+EP2)/2. Maybe a third one. When I lose conviction.

ok, thanks.
nice chart update.
I see chance to BE today.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,890
  • Jul 5, 2012 10:57pm Jul 5, 2012 10:57pm
TAH can tell me the reason why did you choose to short on AU? R U looking for the price to retrace by short it high? well i can see it is gonna go down though.
Attached Image (click to enlarge)
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Money Management and Patience is the Key
  • #36,891
  • Jul 5, 2012 10:59pm Jul 5, 2012 10:59pm
for short why don;t you wait till it break that area?
Attached Image (click to enlarge)
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Money Management and Patience is the Key
  • #36,892
  • Jul 5, 2012 11:16pm Jul 5, 2012 11:16pm
what will you do if you can predict future, and what will you do if cant , and what will you do if fail , and sure we know what to do if correct .
  • #36,893
  • Jul 6, 2012 12:34am Jul 6, 2012 12:34am
Quoting scuderia
TAH can tell me the reason why did you choose to short on AU? R U looking for the price to retrace by short it high? well i can see it is gonna go down though.
Trade based on M15, not daily. Good volume at highs in previous LS, which were the highest highs on M15. And most went down against USD except aussie. Thinking its turn is coming.
  • #36,894
  • Jul 6, 2012 12:35am Jul 6, 2012 12:35am
Quoting jasakreatif
what will you do if you can predict future, and what will you do if cant , and what will you do if fail , and sure we know what to do if correct .

Hi jasakreatif

can you ask me easy questions please.
if you want my asnwer today, you must ask on me on last Monday.
or else, use MCQ...for me to pick.
LOL
TGIF.

Trade Well my friend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,895
  • Jul 6, 2012 2:19am Jul 6, 2012 2:19am
Quoting traderathome
Here is a cursory view of my personal MM and R:R.
1. If you believe in trade, stay with it. A SL will just interfere with doing that. At some point, based on your account drawdown and your waning conviction about the trade, you might decide to bail out with loss. But you decide when to do that! Don't let the market decide that for you by hitting a SL "target" you place there for them! If you must use a SL, then only trade....
-traderathome...
Ok TAH i understood why you are not putting SL and it shows your confident on your analysis and picking the correct trend. You are trying to get most pips from each trade so you feel no need for R:R.

I am curious about your setup? Do you take trade of two pairs moving same direction? Have you ever encounter margin call situvation. If not i want to know what is your max risk % you fix in your mind for each trade. For each additional trade, how do you manage your risk of your total Capital or Margin Money?
  • #36,896
  • Jul 6, 2012 2:47am Jul 6, 2012 2:47am
Entered short on euraud.

L.
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  • #36,897
  • Jul 6, 2012 3:03am Jul 6, 2012 3:03am
Quoting jasakreatif
number five try again nextweek , come join in, great experience , train me fast decision for live acc
Plz check the link i found in FF

http://www.forexfactory.com/showthre...30#post4055530
  • #36,898
  • Jul 6, 2012 3:03am Jul 6, 2012 3:03am
Looks like Long setup is coming for both EU and GU

Not yet confirm though. still waiting till it confim.
Money Management and Patience is the Key
  • #36,899
  • Edited 3:19am Jul 6, 2012 3:04am | Edited 3:19am
Want to shaw something with u gang
H&S,daily pattern(also confirmed with a Weekly flag pattern)=breakout
min Target=1.2100
Teke care and Trade well gang
Regards,
ExpresID
PS:will waht how this week PA close
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  • #36,900
  • Jul 6, 2012 3:32am Jul 6, 2012 3:32am
brothers in pips, what are we seeing!!!! a reversal pattern or what!!!

Please sharpen ur eyes, i'm seeing longggggggggggggggg on EU
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